Velofix Marketing Strategy: Addressing Emerging Issues in Dragon Den

This report analyzes Velofix's marketing strategy in response to emerging issues identified in Dragon Den, where seasonal bicycle repair services and increasing competition pose significant challenges. The report recommends leveraging celebrity endorsements on social media platforms to capture customer attention and emotionally connect with them. It also suggests implementing Corporate Social Responsibility (CSR) initiatives to enhance the organization's popularity and ensure long-term sustainability, requiring an investment of $300 with an expected return within two years. Furthermore, the report proposes a six-month training and development plan with a budget of $600 to improve employee efficiency and meet customer demands effectively. The successful implementation of these strategies requires careful planning and approval to ensure Velofix maintains a competitive advantage in the market.

Running head: MARKETING
MARKETING
Name of the student
Name of the university
Author note

MARKETING
To: The sales manager
From: The sales Executive
Date: 13th march, 2019
Subject: Emerging issue in Dragon Den
Based on the market analysis report, it has been identified that providing the bicycle repair
service seasonally is creating challenges for Velofix to achieve its financial goals. With
increasing business opportunities in the market, the existing vehicle producing organizations are
creating tough competition for Velofix to survive in the market. The competition become tough
when a bike repair company has introduced similar service in the market. In this competitive
business environment, focusing on effective organizational structure has become necessary for
maintaining sustainable position on customers’ mind. In this situation, the organization has
focused on bringing some promotional improvements tough the social media platforms,
however, in case of gaining long term benefits,
The purpose of this memo is to provide the recommendations to the people so that the company
can get its competitive advantage in the market.
The memo has recommended that in order to grab the attention of large numbers of customers,
celebrity endorsement can be done through the social media platforms. With this initiative, it will
be easier for the company to manage the attention of the global customers. I believe, depending
on the celebrity endorsement, it will be easier to emotionally convince the customers. Depending
on the CSR initiatives, not only the popularity of the organization will be increased, but also it
will be beneficial in terms of increasing the business revenue, but also it can ensure the long term
sustainability of Velofix in this service industry. I believe, in case of implementing the plan $300

MARKETING
will be required to be invested, which can be earned within 2 years. By continuing this, It can
also be suggested that based on the daily time spend on the campaign page, it will be easier to
calculate the future growth.
By continuing this, the training and development plan can also be proposed by the marketing
team in which employees will be trained for satisfying customers’ need. In the competitive
business environment, meeting the demands and needs of the customers without compromising
the quality of service can play an effective role for ensuring sustainability in the market. A
training plan for 6 months can be introduced, with the budget of $600 within coming month. By
clarifying the situational importance to the individuals, it can be assumed that the training
program not only increase the efficiency of the employees, but also it will be beneficial in terms
of gaining the competitive advantages from the market.
Of course, the suggestions, which have been made by us need a proper planning, however, after
the approval from your side, it will be easier for us to continue with the solutions.
Thank you
The Sales Executive